Data-Centric Security Market

Report Scope & Overview:

Data-Centric Security Market size was valued at USD 3.87 Bn in 2022 and is expected to reach USD 21.94 Bn by 2030, and grow at a CAGR of 24.2 % over the forecast period 2023-2030.

Data-Centric Security is a type of security system that focuses on the dependability of data rather than the security of networks, servers, or applications. Data-Centric Security is rapidly expanding as businesses become increasingly reliant on digital information to perform their operations and large data organizations become more widespread. Data-Centric Security helps organizations overcome the mismatch between IT security technology and business strategy objectives by quickly tying security services to the data they implicitly safeguard. This relationship is typically disguised by the image of security as an end in itself.

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Concerning the sensitive information that the company gathers, stores, and manages. Pirates are particularly fond of money or payment information, intellectual property, and sensitive personal information about workers and customers. Data security refers to the processes and technology used to secure data, which is an important component of safeguarding your company's reputation and financial health. Data security includes authentication, access control, backups and recovery, encryptions, data masking, tokenization omission, and erasure.

MARKET DYNAMICS:

KEY DRIVERS:

• Demand for data-centric security solutions is increasing.

• Data-centric security solutions are being used as a result of stringent restrictions.

• The growing threat to company data is pushing the use of data-centric security solutions.

RESTRAINTS:

• Tolerance of the organization for security breaches caused by internal weaknesses.

OPPORTUNITY:

• Increased data breaches will present possibilities for data-centric security firms.

• The industrial revolution was widely adopted.

CHALLENGES:

• Enterprise budgetary concerns.

• Inadequate understanding of data-centric security solutions.

IMPACT OF COVID-19:

Because of a considerable movement toward the use of digital platforms and work-from-home policies, the COVID-19 pandemic has had a positive influence on the data-centric security business, leading to increased digital data generation and a probable increase in cyber-attacks. Stringent data storage and leakage prevention rules, regular risk monitoring for breaches at both physical and digital access points, and the implementation of high-quality security systems at massive data farms are all crucial in these situations. By 2022, global investments in data and information security are expected to increase. As consumer awareness of data privacy and security improves, firms are anticipated to tighten their security policies, allowing the global data-centric security industry to expand further in the coming years.

MARKET ESTIMATION:

Based on components, the global data center security market is divided into Software/Solutions, Data discovery, Data protection, Data governance, Professional Services, and others. The bulk of the global data-centric security market was accounted for by Software/Solutions. The software/solutions segment in the global data-centric security market is being driven by key technical benefits such as data inventory, identification and mapping, cataloging, validation, data detection, classification, and better visibility into the location, volume, context, and other risks, and data protection from internal and external factors.

The Cloud Deployment sector has a considerable market share due to several benefits such as lower operational expenses, a simple deployment process, and more scalability in terms of linked resources. Furthermore, cloud-based solutions are less expensive to implement than on-premises systems. Rather of protecting networks, servers, or applications, it ensures the safety of the data itself. Data-Centric Security in Cloud deployment is assisting as organizations rely on digital information to execute their company, and big data projects are becoming easier, which is driving the market expansion of the Data-Centric Security Market.

During the projection period, the healthcare and pharmaceutical category is expected to develop at the quickest rate. The healthcare vertical includes personal health information and vital data about a patient that requires high security; hence, data security is critical to this vertical. The rising requirement to preserve an organization's internal healthcare data is equally critical since most healthcare firms focus on client data security rather than internal data protection. With an increase in medical record thefts and an increased awareness of regulatory compliances, the adoption rate of data-centric security solutions and services is likely to rise in the future years.

KEY MARKET SEGMENTS:

On The Basis of Component

• Software And Solution

• Data discovery

• Data protection

• Data governance

• Professional Services

• Others

On The Basis of Deployment

• On-Premise

• Cloud

On The Basis of Organization Size

• Large Enterprise

• SME

On The Basis of Vertical

• BFSI

• Government And Defense

• Healthcare And Pharmaceuticals

• It And Enterprise

• Telecommunication

• Retail

• Others

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REGIONAL ANALYSIS:

Because of the increasing use of encryption technologies and improved data-centric security solutions by growing economies such as India, China, Japan, Singapore, and Australia, the Asia Pacific region dominated the worldwide data-centric security market with the biggest share. Data-centric security solutions are being widely used by SMEs and organizations in the Asia Pacific area to secure critical and sensitive company data from cyber-attacks, commercial espionage, and data abuse. During the forecast period, the North American data-centric security market is expected to rise rapidly. This is due to the existence of the majority of market participants as well as the rising necessity to assure data security, supremacy, and lineage across enterprises.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

KEY PLAYERS:

The major key players are Broadcom Inc., Forcepoint, IBM Corporation, Imperva, Informatica, Micro Focus, Netapp, Inc., Orange Cyberdefense, Talend S.A., Varonis & Other Players